OBX Real Estate Market Weekly Update – 3/20/2022
The most striking stat from this particular week is the percentage of new listings going under contract during the first seven days: 62%! On the day this was written 79% of them are already spoken for!! Out of all of the properties listed in 2022 81% are under contract/sold/otherwise off-market.
The number of new listings is down 16% when compared to last year. On March 30th there were 238 active listings, not including co-ownerships where 5+ weeks are sold, not the property itself.
In their February Statistical Report, the Outer Banks Association of REALTORS® referred to the number of “Outer Banks listings” when talking about the low number of available properties. That number would exclude Elizabeth City, Edenton, and other places considered “Outer Banks” but still in our MLS area. On this day that number is 176 properties.
|Average List Price||$665,265|
|Average Sold Price||$653,941|
|Median List Price||$499,900|
|Median Sold Price||$485,500|
|Average Days On Market||43|
|Median Days On Market||20|
|Units Under Contract||79|
|Average List Price||$806,562|
|Median List Price||$599,900|
|Average Days On Market||31|
|Median Days On Market||7|
|Under Contract 1st 7 Days||38|
|Under Contract 1st 7 Days %||48%|
|Average List Price||$797,839|
|Median List Price||$640,100|
|New Listings Under Contract/Sold/Withdrawn||54|
|New Listings UC/Sold/Withdrawn %||79%|
|New Listings UC/Sold/Withdraw 1st 7 Days||42|
|New Listings UC/Sold/Withdraw % 1st 7 Days||62%|
|Total Active Listings As Of 3/30/2022||238|
|Average List Price||$1,061,959|
|Median List Price||$729,000|
|OBX Active Listings As Of 3/30/2022||176|
|Average List Price||$1,272,285|
|Median List Price||$849,500|
Information in this article is based on information from the Outer Banks Association of REALTORS® MLS for the period March 14th, 2022, through March 30th, 2022. Residential, not including co-ownerships.